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Friday, January 13, 2012

Mittens is a "vulture capitalist"

An adviser for the super political action committee responsible for the anti-Romney documentary defended the political video—and added some not-so-nice remarks about Mittens.

Rightrdia had to laugh. The Newsters attacks on Romney's business record even got the attention of El Rushbo.

How dare you attack the sacred cow of capitalism?

Limbaugh ignores that there are the high fliers of capitalism like Bill Gates and Steve Jobs and the bottom feeders like Carl Icahn, Chainsaw Al Dunlap and Mitt Romney.

The GOP view is that the government should be the whipping boy for its criticism, but gets in a snit if the government returns the favor to US corporations. Clearly US corporations are a conservative "sacred cow,"

Mitt's political record is also suspect. He vetoed between 800 and 1000 bills as governor of Massachusetts and left office with a 30 per cent favorability rating. This is why Mitt didn't run for a second term as governor.

To fix what ails America, US corporations cannot be shielded from criticism. We had a Wall Street investment bank and real estate meltdown, not a government melt down. The government was culpable in that it did what the corporations asked it to do: repeal the Glass-Steagall Act.

According to Wikipedia:

. . .(T)he repeal of provisions of the Glass–Steagall Act by the Gramm–Leach–Bliley Act in 1999 effectively removed the separation that previously existed between investment banking which issued securities and commercial banks which accepted deposits.

The Secretary of Treasury, Henry Paulson, also substantially reduced the reserve requirements for the investment banks by changing SEC rules. This was probably the straw that broke the camel's back. Paulson had a notorious reputation when he was a Wall street investment bank CEO.